Eur/Usd: Price Pattern Forming

Hello everybody! I hope you are all having a great weekend. The Non Farms Payroll came out on Friday and announced that the economy actually gained jobs last month. That is a positive indicator that the economy really is turning around and we could see some more economic growth in the future.

However this does not mean that the Eur/Usd is going to go down forever. The possibility of the Federal Reserve Raising interest rates could have a significant impact on this pair.

Right now there is a price pattern forming on the Eur/Usd, after the NFP announcement the pair dropped but the price stopped on the current upward trend line that has been forming. So our current trend on the 1hr chart is upwards until the trend line gets broken down to the down side.

Disclaimer: Trading forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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